Victoria recruitment trends

Over the past year, Victoria, and Melbourne in particular, have experienced notable shifts in recruitment patterns across various sectors.

1. Labour Market Dynamics

Employment Growth: As of October 2024, Australia’s employment reached 14,537,500, marking a 2.7% increase from the previous year.

Unemployment Rate: The unemployment rate remained steady at 4.1% in October 2024, reflecting a slight increase of 0.3 percentage points compared to the same period last year.

2. Job Vacancy Trends

Decline in Vacancies: Job vacancies in Australia decreased by 5.2% (18,100 vacancies) in the three months leading up to August 2024. Despite this ninth consecutive quarterly decline, vacancy levels remain 45.1% higher than in February 2020, indicating persistent labour shortages in many industries.

3. Sector-Specific Developments

Construction: The construction industry continues to offer competitive salaries, with civil and building construction managers earning up to $300,000 and $265,000 respectively.

Healthcare and Social Assistance: This sector remains the largest employer in Victoria, accounting for 14.1% of the workforce as of 2021.

4. Workforce Participation

Participation Rate: Victoria’s labour participation rate increased by 2.8 percentage points over the past decade, reaching 67.6% in 2023.

Full-Time Employment: Approximately 69.0% of Victorian workers are engaged in full-time work, a 2.0% increase since 2019.

5. Salary and Benefits Expectations

Employee Dissatisfaction: Nearly 40% of employees in Victoria are dissatisfied with their current salaries, citing the rising cost of living as a primary concern.

Employer Responses: In response to skills shortages, 75% of Victorian employers have offered higher salaries than initially planned in the past year.

6. Adoption of Hybrid Work Models

Prevalence: Victoria leads Australia in adopting hybrid working arrangements, with 82% of employees now engaged in such models.

Productivity Impact: Over half of Victorian employers report moderate to significant increases in productivity due to hybrid work arrangements.

These trends highlight the evolving landscape of Victoria’s labour market, influenced by economic conditions, sector-specific demands, and changing employee expectations.

 

Sources for Statistics on Recruitment Trends

1. Australian Bureau of Statistics (ABS)

•Website: www.abs.gov.au

•Provides comprehensive data on employment rates, job vacancies, and labour force trends.

2. SEEK Employment Reports

•Website: www.seek.com.au

•Offers insights into job postings, salary trends, and in-demand roles by region.

3. Hays Recruitment Reports

•Website: www.hays.com.au

•Annual salary guides and sector-specific recruitment insights.

4. Victorian Government Labour Market Insights

•Website: www.jobs.vic.gov.au

•Regional reports on workforce trends and demand projections.

5. Recruitment, Consulting & Staffing Association (RCSA)

•Website: www.rcsa.com.au

•Industry-specific data and recruitment trends for Victoria.

6. Business Victoria Reports

•Website: www.business.vic.gov.au

•Insights into economic conditions and job growth in Victoria.

7.LinkedIn Workforce Reports

•Website: www.linkedin.com

•Analysis of hiring trends, talent migration, and skill gaps.

8. Deloitte Australia – Market Trends

•Website: www.deloitte.com.au

•Reports on business confidence and sector-specific employment trends.

9. Trade Union and Industry Body Reports

•For example, Master Builders Victoria and the Australian Nursing & Midwifery Federation report on trade and healthcare sectors respectively.

10. Indeed Job Market Insights

•Website: www.indeed.com.au

•Provides analysis of job trends, salaries, and company reviews.

11. Victorian Chamber of Commerce and Industry (VCCI)

•Website: www.victorianchamber.com.au

•Business-specific workforce development insights.